Peter Albero - Aug 10, 2023 Form 4 Insider Report for SALISBURY BANCORP, INC. (SAL)

Role: EVP & Chief Financial Officer
Signature: /s/ Peter Albero
Stock symbol: SAL
Transactions as of: Aug 10, 2023
Transactions value $: -$78,397
Form type: 4
Date filed: 8/14/2023, 02:51 PM
Previous filing: Mar 24, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SAL	Common Stock	Award	$0	+2.82K	+17.45%	$0.00	19K	Aug 10, 2023	Direct	F1
transaction	SAL	Common Stock	Tax liability	-$23.2K	-846	-4.46%	$27.45	18.1K	Aug 10, 2023	Direct	F1
transaction	SAL	Common Stock	Award	$0	+6.7K	+36.99%	$0.00	24.8K	Aug 10, 2023	Direct	F2
transaction	SAL	Common Stock	Tax liability	-$55.2K	-2.01K	-8.1%	$27.45	22.8K	Aug 10, 2023	Direct	F2
transaction	SAL	Common Stock	Disposed to Issuer		-22.8K	-100%		0	Aug 11, 2023	Direct	F3
transaction	SAL	Common Stock	Disposed to Issuer		-1.04K	-100%		0	Aug 11, 2023	By ESOP	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Peter Albero is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Award of performance-based restricted stock units (PBRSUs) pursuant to the Issuer's 2017 Long Term Incentive Plan. 2,000 units were granted on 6/23/21 and 2,000 units were granted on 2/28/22, subject to three-year cliff vesting and the satisfaction of certain performance criteria. A pro-rata portion of the shares (1,742 and 1,075 respectively) vested at target (100%) on 8/10/2023, subject to accelerated vesting upon certain change in control events.
F2	Award of restricted stock pursuant to the Issuer's 2017 Long Term Incentive Plan. 3,200 shares were granted on 5/19/21 and 3,500 shares were granted on 2/28/22, subject to three-year cliff vesting. The shares vested on 8/10/2023, subject to accelerated vesting upon certain change in control events.
F3	Each share of Issuer common stock was converted into and became exchangeable for the right to receive 0.7450 shares of NBT Bancorp Inc. ("Buyer") common stock.

Remarks:

This "Exit" Form 4 is voluntarily filed to report that the Reporting Person is no longer serving in the role as the Company's executive officer, effective as of August 11, 2023, and therefore is no longer subject to Section 16 reporting for Salisbury.